Eurex Linux platform hit by technical glitch

Trading on European derivatives exchange Eurex halted temporarily on Monday, after a glitch affected its T7 trading architecture.

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Trading on European derivatives exchange Eurex halted temporarily on Monday, after a glitch affected its T7 trading architecture.

Eurex, a unit of Deutsche Boerse, stated on its website at 8.30am that trading had stopped due to “technical issues”.  Later updates revealed that the problems were due to problems with its T7 System trading architecture, before the exchange stated that trading had restarted at 9.22am.

The exchange said in a statement that the problems were due to "incorrect time synchronisation within the system". 

The T7 system, developed by Deutsche Boerse Group, was introduced by Eurex in December 2012. The ultra-low latency platform was launched in phases over six months, with new software releases in July. Eurex’s Linux-based trading architecture uses IBM WebSphere MQ Low Latency Messaging, running on HP Gen8 DL38 servers.

The outage is the most recent in a string of IT-related problems which have affected exchanges and trading firms in the past two weeks. Trading halted on the Nasdaq OMX venue for three hours last on August 22, while Goldman Sachs was hit by a software failure which caused a large number of erroneous orders to be sent out on August 20. In response to the Nasdaq outage, US regulator the Securities and Exchange Commission (SEC) pledged to tighten controls around electronic trading.

Earlier in the month problems occured on the the Shanghai Stock Exchange, as securities brokerage Everbright encountered problems with its internal proprietary trading systems.

In response to the numerous high-profile outages, industry experts have claimed that the increasing complexity of markets is putting strain on trading systems, with concerns over quality of software being used on markets.